Stanford’s $100 million energy play

University president John Hennessy just announced a new $100 million research institute “to focus intently on energy issues.” According to a Stanford press release,

The new Precourt Institute for Energy will draw on deep scientific expertise from across the campus and around the world. From the minuscule-materials scientists prying loose more electricity from sunshine through more efficient photovoltaic cells — to the national effort to develop sustainable energy and the global search for ways to reduce atmospheric levels of carbon, the new institute will be at the forefront.

The money reportedly will go primarily for new faculty and to support new graduate students in the field, in addition to the more than $30 million in yearly funding now spent on energy research.

The lead donors are Stanford alumni, Jay Precourt, a senior executive of a number of Texas energy companies, including Halliburton; Thomas Steyer, a Stanford trustee and managing partner of Farallon Capital Management; and Steyer’s wife, noted philanthropist Kat Taylor. Other donors include Douglas Kimmelman, senior partner, Energy Capital Partners; Michael Ruffatto, president, North American Power Group, Ltd.; and the Schmidt Family Foundation.

The Chronicle’s David Baker will have a fuller story in the paper tomorrow. Read the full press release here.